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EconoMeter: Do presidents matter in economy?

For the all the power of the office, panel ponders presidential influence


Sunday, December 18, 2011

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Kelly Cunningham, National University Systems
Answer: Yes

In spite of a truly market-based, capitalist society, the president has enormous influence for both good and bad on the economy through regulation, tax and spending policies. Attempting to direct the economy by interfering in a freely functioning market system inevitably results in inefficiencies, distortions, misplaced resources, sluggish growth, unsupportable debt burdens, and poorly functioning financial structures. The president that ensures the capitalist system fully and freely functions benefits everyone and causes wealth to be created in the most efficient manner possible ultimately raising the nation’s standard of living, increasing economic opportunities, and meeting the needs of all the populace.